The tech world’s latest hiccup involves a significant outage from CrowdStrike (CRWD), a leading cybersecurity provider. This disruption, affecting banks, airlines, and emergency services globally, has sent ripples across multiple sectors. Despite the chaos, bettors on Polymarket are confident that the issue will be resolved by the end of Friday, with an 89% chance of resolution by Friday night and a 70% chance by midday.
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Polymarket Suggests Outage Is Not a Hack
CrowdStrike, known for safeguarding networks against cyberattacks, is facing a storm of its own. According to the company’s CEO George Kurtz, the problem has been identified and a fix is on the way, as reported in an update posted at 5:45 PM Hong Kong Time. The market is betting that the issue isn’t a hack—only a 9% chance according to Polymarket—and is optimistic about American Airlines (AAL) resuming operations by noon Friday.
CrowdStrikes Stock Hit
CrowdStrike’s stock took a hit, dropping over 10% in pre-market trading. Meanwhile, Bitcoin (BTC-USD) remains relatively stable, trading above $63,700, down just 1.7%. In a lighter twist, meme coin enthusiasts are having a laugh, creating “CrowdStrike” and “Blue Screen of Death” coins on Solana (SOL-USD).
Analysts Views on CrowdStrike
Despite the catastrophe, many analysts have reiterated their rating on the stock to a Buy. This may be because the outage has resulted in a temporary stock price dip, presenting an opportunity for investors to buy the dip and potentially cash in on gains later. In fact, 5-star Oppenheimer analyst Ittai Kidron has upgraded the price target from $400 to $450, representing an upside potential of 46.34%.
What Is the Price of CrowdStrike Stock?
At the time of writing, CRWD is sitting at $307.51, down 10.43% on the 1 day chart.
